National Oilwell Varco (NOV) Shares are Up 3.09%

National Oilwell Varco (NOV) has been under a strong bear grip, hence the stock is down -0.15% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 2.65% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.09% in the last 1 week, and is up 2.33% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.

National Oilwell Varco (NYSE:NOV): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $32.62 and $32.46 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $33.51. The buying momentum continued till the end and the stock did not give up its gains. It closed at $33.35, notching a gain of 2.43% for the day. The total traded volume was 4,565,909 . The stock had closed at $32.56 on the previous day.

The stock has recorded a 20-day Moving Average of 2.39% and the 50-Day Moving Average is 0.09%. National Oilwell Varco, Inc. has dropped 0.19% during the last 3-month period . Year-to-Date the stock performance stands at 1.2%.

National Oilwell Varco (NOV) : The highest short term price target forecast on National Oilwell Varco (NOV) is $45 and the lowest target price is $22. A total of 16 equity analysts are currently covering the company. The average price of all the analysts is $33.44 with a standard deviation of $6.9.


National Oilwell Varco, Inc. (NOV) is engaged in providing design, manufacture and sale of equipment and components used in oil and gas drilling, completion and production operations. The Company also provides oilfield services to the upstream oil and gas industry. The Company operates through four segments: Rig Systems, Rig Aftermarket, Wellbore Technologies, and Completion & Production Solutions. Its Rig Systems segment makes and supports the capital equipment and integrated systems needed to drill oil and gas wells on land and offshore. Its Rig Aftermarket segment provides aftermarket products and services to support land and offshore rigs, and drilling rig components manufactured by the Companys Rig Systems segment. Its Wellbore Technologies segment sells and rents solids control equipment; and provides solids control, waste management and drilling fluids services. Its Completion & Production Solutions segment provides technologies for well completions and oil and gas production.

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